New York, NY -- (SBWIRE) -- 12/21/2020 -- The speech analytics marke t is expected to reach USD 4.24 Billion by 2026, according to a new report by Reports and Data. Speech analytics is used to detect and analyze spoken words that produce structure to interactions and exhibit information buried in the communication between the customer contact centers and companies. Speech analytics adoption maximizes workforce enforcement and improves customer experience.

Growing focus on higher customer satisfaction is one of the essential factors kindling the growth of this market. Cloud-based speech analytics solutions are anticipated to develop the speech analytics. As a result, it will present growth opportunities for the market.

COVID-19 Impact on the Speech Analytics Business Landscape

The latest research report draws readers' focus on the grave impact of the COVID-19 pandemic on the global Speech Analytics market and its key segments and sub-segments. The coronavirus outbreak has had an unprecedented impact on the global economic landscape. The report considers the COVID-19 pandemic as one of the leading contributors to the potential downturn of this business vertical. The global Speech Analytics market has been adversely impacted by the pandemic, which has brought about several disruptive changes to the market dynamics and demand trends. Therefore, the pandemic has led to acute financial crises all across the industry, slowing down the progress of the businesses involved in this sector. However, the report offers an analysis of the overall impact of the pandemic on the Speech Analytics market's growth.

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Global Speech Analytics Market Segmentation:

The latest report enumerates the leading products manufactured in this industry, their application areas, as well as end-use industries.

Leading companies profiled in the report:

Verint Systems Inc., Hewlett Packard Enterprise Company, NICE Ltd., CallMiner Inc., Avaya Holdings Corporation, Genesys Telecommunications Laboratories Inc., Aspect Software Inc., Castel Communications, Clarabridge Inc., Zoom International, and Calabrio Inc

Deployment Outlook (Revenue, USD Million; 2016-2026)

· On-Premise

· Cloud

Component Outlook (Revenue, USD Million; 2016-2026)

· Solutions

· Services

Application Outlook (Revenue, USD Million; 2016-2026)

· BFSI

· IT & Telecom

· Energy and Utilities

· Retail and Ecommerce

· Others

Organization size Outlook (Revenue, USD Million; 2016-2026)

· Large Enterprises

· Small & Medium Enterprises (SMEs)

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Geographical Segmentation:

North America (U.S., Canada)

· Europe (U.K., Italy, Germany, France, Rest of EU)

· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

· Latin America (Chile, Brazil, Argentina, Rest of Latin America)

· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Highlights of the Report:

· The market report comprises a broad segmentation of the global Speech Analytics market on the basis of product type, application gamut, end-use landscape, regional landscape, and competitive scenario.

· The report lists the key business expansion strategies undertaken by the leading market competitors, such as mergers & acquisitions, collaborations, R&D investments, and product innovations, technological upgradation, etc.

· The report exhaustively assesses the present market situation, downstream buyers, and upstream feedstock.

· Additionally, the report gauges the significant impact of modern technologies, such as artificial intelligence and big data analytics, and social media platforms, on the Speech Analytics market development in the near future.

Advantage of Buying this Report:

The report is furnished with an in-depth analysis of various segments of the market to offer the readers to formulate strategic growth plans and gain a robust footing in the market. Key strategies of the industry are covered in the report. The report is furnished with a thorough evaluation of the impact of these sustainable strategies on the Speech Analytics industry and offers a competitive edge to the established companies, manufacturers, and key vendors of the Speech Analytics market as well as to the new entrants gaining traction in the industry.

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